Clear Secured IPO: Price, GMP, Analysis, And Details

Clear Secured IPO- Company Analysis 

Clear Secured IPO under the SME IPO category is a book build issue of Rs. 85.60 Cr by Clear Secured Services Ltd., and is a facilities management company with headquarters in Mumbai that provides integrated IT, telecom, infrastructure, maintenance, security, and staffing services.

Important Services:

• Services for Security.

• Cleaning, housekeeping, repair, and maintenance (RnM).

• Interiors & Infrastructure (TIS).

• Solutions for HR and Staffing.

• Telecom and Remote Surveillance.

• Software and IT Services.

The business provides services to clients in a variety of sectors including government, banking, oil and gas, real estate, telecom, insurance and retail.

Clear Secured IPO Details

The Clear Secured IPO date of opening is 01 December 2025, its initial public offering will end on 03 Dec, IPO allotment on Dec 04 and refund initiation on Dec 05, 2025.

The Rs. 85.60 crore new SME IPO comprises a wholly fresh issue of 0.65 crore shares.

The Clear Secured IPO listing date (expected) might be on Monday, Dec 08, 2025, and listing at the NSE and SME. 

The Clear Secured IPO price band is Rs. 125 to Rs. 132.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Dec 01, 2025
IPO Closing Date	Dec 03, 2025
IPO Allotment Date	Dec 04, 2025
Refund Initiation	Dec 05, 2025
IPO Listing Date	Dec 08, 2025

 

Click to open demat account and apply for the IPO.

 

 

Company Financials

(Amount in Cr)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	227.55	170.04	153.47
Total Income	482.74	350.63	311.71
PAT	9.92	12.08	6.85
EBITDA	22.37	21.80	14.58
Net Worth	97.35	87.43	75.35
Reserves & Surplus	97.10	87.18	75.10

 

Cash Flows

(Amount in lac)

Net Cash Flow	31 Mar 2024	31 Mar 2023	31 Mar 2022
Net Cash Flow Operating Activities	(1,918.95)	(670.99)	1,178.84
Net Cash Flow Investing Activities	(243.27)	(443.57)	(1,803.84)
Net Cash Flow Financing Activities	559.82	1,424.58	(619.00)

Revenue Bifurcation

(Rs. in Lac)

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Investment in our wholly owned Subsidiary, Comfort Techno Services Private Limited (“CTSPL”), for funding the purchase of equipment. ~ Rs. 5.25 Cr.

• Funding for Working Capital Requirement. ~ Rs. 26 Cr.

• Repayment or prepayment of Borrowings. ~ Rs. 35.50 Cr.

• General corporate purposes. 
  
  

Listed Peers of Clear Secured Ltd.

Company Name	Face Value (Rs. )	EPS (Rs. )	P/E Ratio (x)
Aarvi Encon Limited	10	7.47	14.66
Integrated Personnel Services Ltd.	10	7.67	35.10
Kapston Services Limited	5	12.39	19.61

 

Valuation

KPI	Values
ROE	10.74%
ROCE	23.46%
Debt/Equity	1.02
RoNW	10.74%
PAT Margin	2.08%
EBITDA Margin	4.70%

 

 

 

Evaluation of P/E Ratio

Considering the period ended on FY 2024 with an EPS of Rs. 7.34 from the last year, the resulting P/E ratio is 17.98x.

Explore the Mother Nutri IPO.

IPO's Strengths

• The company has accumulated approximately 16 years of experience in the security and manpower services industry. A long-standing reputation fosters the attainment of long-service contracts.

• Manpower supply, facility management, cleaning services, and logistical support are some of the services provided by the company, and thus, reduce the reliance on a single source of revenue.

• The company has a stable future revenue due to a number of institutional hedge clients as well as a number of recurring service contracts.

• The company has the ability to support and provide services as the promoters of the company have a vast experience in operations, contracts and service delivery.

 

IPO’s Weaknesses

• The company has only a few major customers, and losing any one of them can significantly impact the company's financial performance.

• The manpower outsourcing industry has stiff competition and is highly price-sensitive, which pressures EBITDA and PAT margins.

• CSSL has statutory obligations for PF and ESIC, labour law compliance, the GST Act, and other relevant legislation. Non-compliance may lead to loss of the relevant contract and/or incur a fine.

• The company has to deal with paying all its employees on a monthly basis, while customers often have extended credit. This creates a working capital shortfall, and there is a reliance on debt. 

 

Clear Secured IPO GMP (Grey Market Premium)

Clear Secured IPO GMP today is Rs. 11 as of 27 Nov 2025 at the time of writing this information.

Clear Secured IPO Summary

The Clear Secured IPO has a market maker portion size of 3,25,000 Shares (Rs. 4.29 Cr).

IPO Opening & Closing Date	01 Dec, 2025 to 03 Dec, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 125 to Rs. 132 per Share.
Lot Size	1000 Shares
Issue Size	64,85,000 Shares (Rs. 85.60 Cr)
Offer for Sale	-
Fresh Issue	64,85,000 Shares (Rs. 85.60 Cr)
Listing at	NSE, SME
Issue Type	Book build issue IPO
Registrar	Bigshare Services Pvt. Ltd.

IPO Lot Details 

Retail investors can invest in a minimum of 2 Lots (2000 Shares) for Rs. 2,64,000, and in multiples thereof, while S-HNI investors can invest in a minimum of 3 Lots (3000 Shares) for Rs. 3,96,000.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
S-HNI (Min)	3 Lots

 

Clear Secured IPO Allotment Status

To check the Clear Secured IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of Clear Secured Ltd.

• Mr. Vimal Dhar Lalta Prasad Dubey

• Mr. Rakesh Dhar Dubey

• Mrs. Kusum Vimal Dubey

• Mr. Sanjay Dubey.

Pre-Issue Promoter Shareholding	99.84%
Post-Issue Promoter Shareholding	-

 

IPO Lead Managers

• Horizon Management Pvt. Ltd.

Dividend Policy

The company has not declared a dividend during the last three financial years.

 

 

Conclusion

With 16 years of experience, a variety of B2B facility management services, and long-term recurring contracts that provide steady income visibility, Clear Secured Services Ltd. presents a compelling value proposition. Thin margins, working-capital strain, and excessive customer concentration are still major issues, though. Before applying for the Clear Secured IPO, investors should assess the growth potential and related risks.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.